By: Staff Writer
November 3, 2026
Trade in goods and services grew by 18 percent for exports and 13 percent for imports year-on-year revealed the The Economic Commission for Latin America and the Caribbean (ECLAC) in their International Trade Outlook for Latin America and the Caribbean, 2026.
The report, said: “Trade flows in Latin America and the Caribbean were particularly dynamic in 2026. In the first half of the year, the total value of the region’s trade in goods and services grew by 18 percent for exports and 13 percent for imports year-on-year.
“This strong performance was driven by trade in goods, with exports increasing by 20 percent and imports by 14 percent in the first six months of the year. The region’s trade in services grew at year-on-year rates of 8 percent for exports and 9 percent for imports over the same period.
“The strong export performance of Latin America and the Caribbean in 2026 is largely attributable to the sharp increase in commodity prices. Between January and August, the region’s aggregate export price index rose by 23.5 percent relative to the year-earlier period and is projected to increase by 20.4 percent for the year as a while.
“The main driver is minerals and metals, with prices projected to rise by 31.6 percent, led by significant increases in copper, gold, silver and tin prices.
“The growth of the region’s exports also reflects an increase in export volumes, particularly in Mexico, whose manufactured exports account for more than 40 percent of the regional total.”
The report predicts a 20 percent increase in the value of goods exports in 2026, the largest since the post-pandemic rebound in 2021. This result is expected to be driven by an 11 percent rise in export prices and a 9 percent increase in export volumes, which will grow for the sixth consecutive year. It also advises that performance will be unequal between subregions: South America will benefit from the price cycle of basic goods, while Mexico will show particular growth in manufactured exports.
Services exports are expected to grow by 11 percent, driven by the recovery of transport and travel, and the resilient growth of modern services. Goods trade increased logistical demands and the demand for international transportation, while tourism benefited travel exports, especially in Central America and the Caribbean.
The report states that worldwide services trade, driven mainly by modern and digital services, is showing the strongest growth in international trade. It totaled $9.6 trillion dollars in 2025, with average annual growth of 6.6 percent over the last decade. In Latin America and the Caribbean, modern services exports grew by more than 3.5 times in the last two decades, compared with about 1.6 times for traditional services. Despite this progress, the region accounts for just 2 percent of global modern services exports.
These services create opportunities to diversify exports, generate foreign exchange and quality employment, and increase the productivity of other sectors, such as agriculture, mining, and manufacturing.
To leverage this potential, a comprehensive strategy is needed that combines promoting exports, attracting direct foreign investment, and developing human talent, effectively coordinated through the public and private sectors. This chapter examines the experiences of several countries in the region, particularly the cases of Costa Rica and Uruguay, which have coordinated these areas through sustained strategies.
“The region faces significant challenges in an uncertain geopolitical landscape. Geopolitical tensions, the disruption of shipping routes, and a lack of predictability in trade policy create trade risks. The competition for critical minerals and new environmental demands are also reconfiguring value chains and conditions for market access,” the Executive Secretary of ECLAC stated.